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Conventionally, game theory predicts that the joint mixed strategy of players in a noncooperative game will satisfy some equilibrium concept. Relative probabilities of the joint strategies satisfying the concept are unspecified, and all strategies not satisfying it are assigned probability zero....
Persistent link: https://www.econbiz.de/10014216189
We introduce a framework that explains non-rationality in non-repeated games. In our framework a player i adopts a binding "persona" - a temporary utility function --- that they honestly signal before play. By adopting a "non-rational" persona, i may cause changes in their opponents' behavior...
Persistent link: https://www.econbiz.de/10014216272
It is well-known that a player in a noncooperative game can benefit by publicly restricting his possible moves before play begins. We show that, more generally, a player may benefit by publicly committing to pay an external party an amount that is contingent on the game's outcome. We explore...
Persistent link: https://www.econbiz.de/10013083961
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We introduce a modification to the two-timescale games studied in the evolution of preferences (EOP) literature. In this modification, the strategic process occurring on the long timescale is learning by an individual across his or her lifetime, not natural selection operating on genomes over...
Persistent link: https://www.econbiz.de/10013008782
In Newcomb's paradox you choose to receive either the contents of a particular closed box, or the contents of both that closed box and another one. Before you choose, a prediction algorithm deduces your choice, and fills the two boxes based on that deduction. Newcomb's paradox is that game...
Persistent link: https://www.econbiz.de/10012715217
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We examine the potential for a simple auction to allocate arrival slots during Ground Delay Programs (GDP's) more efficiently than the currently used sys- tem. The analysis of these auctions uses Predictive Game Theory (PGT) Wolpert and Bono (2010a,b), a new approach that produces a probability...
Persistent link: https://www.econbiz.de/10013093563
In many cultures a major factor affecting a person's happiness is the difference between their income and that of their neighbors, independent of their own income. This effect is strongest when the income difference is negative (richer neighbor). In addition, across their lifetime, a person's...
Persistent link: https://www.econbiz.de/10014211585
In experimental tests of human behavior in unstructured bargaining games, typically many joint utility outcomes are found to occur, not just one. This suggests we predict the outcome of such a game as a probability distribution. This is in contrast to what is conventionally done (e.g, in the...
Persistent link: https://www.econbiz.de/10014189073